Janus International Group (NYSE:JBI) Shares Up 9.2% - Here's What Happened

Janus International Group, Inc. (NYSE:JBI - Get Free Report)'s stock price rose 9.2% during trading on Tuesday . The stock traded as high as $8.97 and last traded at $8.89. Approximately 276,306 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 1,873,811 shares. The stock had previously closed at $8.14.

Wall Street Analysts Forecast Growth

Separately, KeyCorp raised their target price on Janus International Group from $9.00 to $10.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $10.00.

Janus International Group Stock Performance

The company has a current ratio of 2.59, a quick ratio of 2.21 and a debt-to-equity ratio of 1.03. The company has a market cap of $1.26 billion, a PE ratio of 25.69 and a beta of 1.24. The business's 50 day moving average is $8.07 and its two-hundred day moving average is $7.75.

Janus International Group (NYSE:JBI - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.05. Janus International Group had a net margin of 5.49% and a return on equity of 13.38%. The company had revenue of $210.50 million for the quarter, compared to analyst estimates of $200.73 million. During the same period in the prior year, the company posted $0.21 EPS. The firm's revenue for the quarter was down 17.3% on a year-over-year basis. On average, equities research analysts anticipate that Janus International Group, Inc. will post 0.54 EPS for the current year.

Janus International Group declared that its Board of Directors has approved a stock buyback plan on Thursday, May 15th that allows the company to repurchase $75.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 6.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Institutional Trading of Janus International Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Exchange Traded Concepts LLC purchased a new stake in shares of Janus International Group during the 1st quarter worth $228,000. GAMMA Investing LLC lifted its position in shares of Janus International Group by 787.5% during the first quarter. GAMMA Investing LLC now owns 17,813 shares of the company's stock valued at $128,000 after buying an additional 15,806 shares during the last quarter. Group One Trading LLC boosted its holdings in shares of Janus International Group by 9,000.0% in the 4th quarter. Group One Trading LLC now owns 9,100 shares of the company's stock valued at $67,000 after buying an additional 9,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Janus International Group by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 80,735 shares of the company's stock worth $593,000 after buying an additional 2,890 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Janus International Group by 15.0% during the 4th quarter. Principal Financial Group Inc. now owns 210,375 shares of the company's stock worth $1,546,000 after acquiring an additional 27,499 shares in the last quarter. 88.78% of the stock is currently owned by institutional investors.

Janus International Group Company Profile

Janus International Group, Inc manufacturers and supplies turn-key self-storage, and commercial and industrial building solutions in North America and internationally. The company offers roll up and swing doors, hallway systems, relocatable storage moveable additional storage structures units, and other solutions.